Gateway East Business Center Lease Brokered by Bradford Commercial/CORFAC
Garland, TX (June 23, 2014) – In a fast-moving transaction, the Dallas Morning News has inked a long-term lease for the last available space in the 416,000-sf Gateway East Business Center in northeast Dallas.
The metropolitan newspaper's new distribution center is slated to open Aug. 1 in 22,590 sf at 4002 W. Miller Rd. in Garland, the smaller of two buildings in a class A project with immediate access to Interstate 635.
"The negotiations on this deal went very quickly. We had two other interested parties pursuing this space at the same time," says Susan Singer, executive vice president of Dallas-based Bradford Commercial Real Estate Services/CORFAC International.
Gateway East's high parking ratio was the deal maker for the Dallas Morning News, whose fleet of carriers will be picking up newspapers at the facility for their early-morning daily runs. "Even though they work during off-peak hours, parking was a critical requirement," Singer emphasizes.
The newspaper will set up shop in Gateway East's 112,000-sf Building 1. "This space has great visibility on Miller Road," Singer says. The project includes a 304,000-sf building at 4009 Distribution Dr.
Negotiations went full circle in less than two months. Singer and Michael T. Grant, senior vice president and managing partner of Bradford, represented the landlord, IAC North Dallas LLC. Todd Awe of TAG Realty Management Inc. negotiated on behalf of the Dallas Morning News.
"Throughout the metroplex, the industrial market has improved, particularly in Garland, where there's been a significant uptick in activity," Singer adds.
About Bradford Commercial Real Estate Services/CORFAC International
Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.